Hello friends, nice to see you again.
The cryptocurrency world is a place full of opportunities and risks. It may make people rich or lose money. Sometimes, just a thought can make you fall into the abyss. But entering the cryptocurrency world has already surpassed most people. You need a good attitude to do anything, and cryptocurrency trading is no exception. Some newcomers who have just entered the circle will cry for war and killing when the market falls a little. Then I advise you to quit the circle as soon as possible. I can only say that the cryptocurrency world is not suitable for you.
Here I will share with you what mentality a cryptocurrency trader should have:
1. Understand the essence of cryptocurrency trading: distinguish between the primary and secondary. Cryptocurrency trading is just a sideline for you. Treat it as a new way of financial management and a way for you to make extra money. Of course, if you treat it as your main business (professional copycat), then I have nothing to say.
2. Look at the ups and downs calmly: In the process of investing, we need to maintain a calm attitude and not calculate how much we have lost or earned every day.
Because no matter what kind of commodity it is, the price will always fluctuate within a cycle. It will fall when it is crazy and recover when it is depressed. These fluctuations are very normal. If you care too much about short-term gains and losses, then your mentality will follow the price fluctuations at any time, and you will definitely be a loser in the end.
3. No need to watch the market every day: There is no need to watch the market every day. Watching the market is the obligation of those who run the circle. What most people have to do is to slowly throw their spare money into the pool, wait for it to grow in the pool, and then you can scoop it up. Cryptocurrency trading is that simple and not as tiring as you think.
4. Don't be greedy: Don't expect to buy the bottom and sell the top every time, avoid greed and panic, and get the profits you can get. You should treat every market fluctuation with a normal mind, avoid greed and panic, and don't seek to become a master of selling the top and buying the bottom. Just follow the trend to achieve success. Otherwise, it is likely that you will join the team of "masters" of buying the top and selling the bottom. Many investors hope that they can become masters of "buying the bottom and selling the top" in real trading, and always hope that each order can be done very well. In reality, this method may be a behavior that is not worth the gain.
No one will care how much effort you have put in, how tired you are, or how painful it is to fall. They will only look at where you stand in the end, and then envy or despise you. So, if you can't do it alone, then you need to find a way to win together!
5. Learn more about relevant knowledge: To understand the nature of digital currency, learn more, turn speculation into an investment, and your mentality will undergo a complete change.
6. Control your emotions of chasing rising prices: chase rising prices and sell falling prices, cut your losses as soon as the price drops, and chase high prices as soon as the price rises, and you will end up cutting yourself.
7. Don't be blindly pessimistic: People always say that the market value has fallen by half, while optimists always say that the market value is still halfway. Pessimists think that the glass is half empty, while optimists think that the glass is half full. Please maintain an optimistic attitude and don't be influenced by the majority of the market and try to get close to the minority. After all, success belongs to the minority.
8. Not losing money is also making money: It is better not to make money than to lose money. The urgent need for profit increases the gambling mentality. How do you view not making money and losing money? For investors, not making money and losing money are absolutely two different concepts. Not making money means that most of the time your analysis and judgment are still correct, but because you dare not stick to your own point of view and do not have enough courage to enter the market, you lose an opportunity to make a profit, but you just feel a little regretful and sorry. There will be countless opportunities in the future. As long as you are good at summarizing past lessons, you can still maintain a good mentality to make a profit.
A mistake in your 20s is better than a mistake in your 40s, and a mistake involving $1,000 is better than a mistake involving $100,000. Learn from it and move on. When you do this and set reasonable expected returns, then short-term fluctuations in the price of the currency will no longer affect your mood.
In short, cryptocurrency trading is not as simple as you think. You can't make a lot of money just by buying and selling. A qualified cryptocurrency trader must not only understand the economy, follow the news, understand national policies, care about the international situation, but also study the fundamentals and technical aspects of virtual currency. Moreover, you must constantly fight your own fear and greed. You must have a big heart, withstand the ups and downs, from nothing to something, from something to nothing, withstand temptation, and endure torture. It can be said that those who survived the cryptocurrency circle are basically indomitable, immune to all poisons, and tempered into steel.
Here are some useful tips for newcomers!
I repeat, for those who are new to the circle, get started first. My suggestions are often unpleasant to hear, but they are all true. Moreover, newcomers to the circle may not understand the truth of the cryptocurrency circle. I hope the following suggestions will be helpful to you.
1. For newbies who have just entered the market, it is recommended to focus on learning. Don’t listen to information easily and learn to distinguish for yourself.
For example: When you see many public accounts saying that this coin is good, is it a soft advertisement made by the dealer, waiting for newbies to enter and reap the benefits?
2. Don’t follow the trend at the beginning. Don’t think you know a lot. Being overconfident will lead to being trapped. Don’t worry about missing out on the big bull coins. Even if you get it right this time, your mentality will change. You may go all in next time and lose everything.
3. At the beginning, it is recommended to buy a few mainstream coins, which can reduce the risk. Even if the price drops, it will rise again one day. Just leave it there and do whatever it wants!
4. Invest small amounts of spare money in the beginning. This way you will have a good mentality and will not be affected by emotions in your judgment. There is still a long way to go in your life, and we must accumulate wealth slowly.
5. You need to think clearly whether to invest in value or speculate in the short term. I still recommend value investment. Or you can take out 10% of your money to speculate in the short term and develop a sense of the market!
7. Don’t think that you will become rich overnight by playing all in one game. That’s buying lottery tickets! Have you ever won a lottery?
Well, that’s all for today! If you have any other questions, please leave a message to discuss!
See you next time. #btc